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Search Results 0 to 3 of about 4 (some duplicates have been removed)
Oct 28, 2013 8:00pm EDT
it, regulate it, and tax it. >> terry lanni, the ceo of mgm/mirage. he says if his company could offer internet gambling, it could instantly double its $8 billion a year revenue. >> if we could add our brand and the credibility of a publicly traded united states gaming company, this could be a vast business. >> but mgm/mirage is shut out because the government says a law banning sports betting over the phone also bans all gambling on the internet. obviously, it hasn't stopped u.s. citizens from doing it, but it has stopped u.s. companies from offering it. >> the vast majority of wagers that are placed on the internet now are done offshore and illegally. and i, for one, think that to enact laws that you can't enforce makes no sense whatsoever. >> lanni and mgm/mirage set up their own offshore gambling website a few years ago, but to stay within the law, they could only accept bets from gamblers outside the u.s. >> we just didn't make any money; that was the problem. >> so you shut it down. >> we did. >> it's all very odd. >> well, no, it is odd. there's no doubt about that. i mean
Oct 27, 2013 11:00pm EDT
plans in the first place. they were created in the late 1970s as a savings plan and tax shelter for ordinary americans. the idea was that workers would make voluntary contributions and employers would match a portion of them. the taxes would be deferred until the employee reached the age of 59 and 1/2. it was supposed to supplement the two traditional income streams for retirees: social security and pensions, one leg of a three-legged stool that would support american workers into their golden years, but it didn't turn out that way. >> the three-legged stool, if you will, has gone to two legs, and it's wobbly. and it's wobbling, and i'm not sure that it's gonna support anything. and that's the scary part, and people are afraid. >> brooks hamilton has helped design retirement plans for some of the country's largest corporations. he says 401(k)s turned out to be so much cheaper than funding pensions, that many companies decided to freeze their pension plans and replace them with 401(k)s. the decision created millions of new employee investors for wall street and the financial communit
Search Results 0 to 3 of about 4 (some duplicates have been removed)